5 Must-Reads: Payment News from Apple to Zelle

5 Must-Reads: Payment News from Apple to Zelle

The long-awaited Zelle P2P network is rolling out nicely, while payments insiders watch the launch of Apple’s new P2P service with interest. Meanwhile, do new payment forms affect the way we spend – and how much?

By the end of June, Zelle — the bank-backed P2P payments network powered by Early Warning — will be live in the mobile banking apps of 12 banks, with 18 more not far behind. Karen Webster talks to LouAnne Alexander, group president of payments at Early Warning, about the upcoming launch and what’s next for the latest entrant in the P2P space.

In order for Apple to achieve significant success with its P2P service, it needs to extend its network beyond just Apple customers and quickly. Can Apple make the leap successfully, or will its new payments service go the way of the Betamax? (Note: If you’re asking what a Betamax is, you’re making our point)

Apple is promoting a “Lose Your Wallet” event in San Francisco. It highlights 36 local merchants that accept Apple Pay. Is this a savvy move for the tech giant, or a big “so what?” in a market where mobile payments already have a foothold?

Here’s a completely different take on the sustainability of mobile payments. Some reports suggest that mobile payment systems are contributing to a kind of “tip inflation” where what once was generous is now barely sufficient. Do mobile payments cost more because of guilt?

Some big brands are redefining themselves as commerce enablers — and building the highly technical payments infrastructure to back it up. When Apple, Google and Amazon run their own brand of payments, will traditional payments fall by the wayside?